A collection of news and insights about our firm and developments in the law, finance and insolvency industries
Summary: What is a Director Penalty Notice? A Director Penalty Notice (DPN) is a tax enforcement instrument issued by the Australian Taxation Office for unpaid tax debt It is issued to directors of companies and if it is not complied with they become personally liable for the company’s unpaid tax debts. A “lockdown” director penalty […]
Help, my company is insolvent! Who should I call? When a company becomes insolvent the directors have a difficult challenge ahead if they want to salvage it. The first task company directors have is to work out who is going to be their trusted adviser. If a director “starts developing” a restructuring plan they can […]
Sewell & Kettle Lawyers have been added to the preferred supplier list for the US Consulate to assist US citizens and companies doing business in A
Our recent article “One Step Towards Chapter 11: Australian Safe Harbour Reform” has been published by the American Bankruptcy Institute. Our firm principal Ben Sewell is a member of the ABI’s International Committee and the firm is developing unique cross-border insolvency expertise and networks.
Last week was a busy week for educating and meeting solicitors in Sydney and Melbourne. Lots of solicitors are interested in finding out more about the new safe harbour from insolvent trading (section 588GA Corporations Act). So the firm is giving presentations on the new safe harbour for law and accounting discussion groups in […]
The case of ASIC v Plymin is significant for lawyers because it sets out a list of indicators that can help us understand when a company will be found to be insolvent. The general rule in law is that company insolvency is proven by a cash-flow test not a balance sheet test.
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